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the minds of lobbyists. >> that's right, this. the president and congress left washington friday for the holidays with a promise of returning in just a couple of days. only a week left to avoid tax hikes and spending cuts that will impact almost every american. now it appears democratic senate leader harry reid may take the lead in crafting a compromise to avoid tax hikes on at least the middle class which was the president's parting plea. meanwhile here in california leaders are concerned about what could happen if the tax hikes and budget cuts kick in. >> this would undo a lot of the good of the extra taxes californians are willing to invest in the schools. particularly special needs students would be cut by 10% and the meals program that so many of the californias are growing up in poverty and they need that meal. >> some county and city officials are concerned about the potential impact on health and welfare programs. >>> the dreaded fiscal cliff can potentially affect a wide range of health programs. >> cbs news' wyatt andrews explains. >> reporter: professor mallen like hun
:06. president obama flew back to washington from hawaii overnight to work on the plan to avoid the "fiscal cliff." cbs reporter tara mergener says congress remains gridlocked and fewer americans expect any progress before the new year. >>> reporter: senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the "fiscal cliff." higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good morning? >> reporter: house republicans scuttled the proposal from speaker john boehner last week
are involved in a high stakes political blame game. >> we are here in washington working while the members of the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president we would be happy to look at wah he proposes but the truth is we are coming up against a hard deadline and as i said this is a conversation we should have had months ago. >> reporter: democrats want to extend the bush-era tax cuts to everyone except those americans making $250,000 or more a year. many republicans are against any tax increases. most americans just want something to be done. >> people are just tired of partisanship and they want everyone to come together. >> reporter: if lawmakers don't reach a deal by january 1, many economists are concerned it could eventually lead to another recession. i'm ed payne reporting. >>> president obama appears to have more backing from the public in budget negotiations. a gallup tracking poll released wednesday gives mr. obama 54% support compared to 26% for hous
. >> thank you. >>> there's more urgency in washington to get a deal done before the so-called "fiscal cliff" deadline less than a week from now. senate majority leader harry reid was reportedly at the capital on christmas working on a scaled-down plan to avoid tax hikes for all about the wealthiest americans. his plan would include short term spending cuts instead of long-term deals that had been sought. >>> from hawaii. comes word that president obama will cut short vacation and return to washington later today to take part in "fiscal cliff" negotiations. christmas day the president and first lady met with servicemembers and their families. the president told the marines he was grateful for their service and posed pour pictures. >>> recent college graduates are having a tough time getting jobs in their desired lines of work. according to the latest u.s. census figures about 2 60,000 young adults with college degrees in california are working in food service and retail. >> couldn't get a job in the field that i wanted to so i figured i have to start at the bottom. >> without higher paying j
approaching washington's failure to reach a compromise is affect americans' confidence. taxes will go up on january 1st if they don't reach a deal. >> i've asked leaders of congress to work toward -- it protects unemployment insurance for 2 million americans, and laze the groundwork for further work on both growth and deficit reduction. >> the president's solution of raising tax rates would still be ready as far as the eye can see and hurt jobs. >> president obama said he will cut his hawaiian vacation short to hammer out a deal with congress with the deadline a short week away. >>> 5:18 now. >>> the nra is adamant about its idea of placing armed guards in the nation's schools. >> this comes as diane fine stein promises to introduce new gun control legislation in the new year. the head of the nra put the game on violent video games and problems with the mental health system insisting another assault weapons ban is not the answer. >> it doesn't work. diane fine stein had her ban, and columbine occurred. >> hundreds of protests yesterday. >>> amid the debate over gun controls and restricti
weapons. >> in washington, arizona senator john mccain said the u.s. should consider all options to prevent chemical attacks in syria including military intervention. >> as for the crisis in cairo, president obama has made a phone call to egyptian president mohammed morsi. he expressed concerns about the deaths and injuries of protesters outside morsi's palace. demonstrators are upset about the new unrestricted powers morsi gave himself. >>> looks like authorities in belize will have to wait to question john mcafee. he's back in a georgia georgia tamilian jail. he asked for asylum there. he's wanted for questioning about murder in belize. >>> to reach an agreement on a plan to avoid the fiscal cliff. financial experts were on capitol hill yesterday to talk about the negative impacts if the automatic tax increases and spending cuts happen on january 1st. president obama visited a northern virginia family who would suffer finally if a -- financially if a deal isn't reached. the president's approval rating is at its highest point since the raid that killdee killed osama bin laden. 4
washington state legalized gay marriage. >>> the plane is totaled. nobody inside survived. >>> some new details on will tee e that -- latina star jenni rivera. >>> we're two weeks away from christmas eve which means a record breaking day for fedex, why the company expects to ship 19 million packages today. ,,,,,,,,,, you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ >>> two people have been found bound and gagged in the middle of a san francisco street. a bizarre discovery prompts a homicide investigation in san francisco. >>> the plane is totaled. nobody inside survived. >>> mexican american super star jenni rivera died in the plane crash. >> most of you that know my sister, she was a strong person. >>> they started tango. >>> face to face me
fire allegedly in july. >>> same-sex marriage is legal in washington signed into law last night by the governor. dozens of people got marriage licenses at the courthouse in seattle. the state has a three-day waiting period so the earliest it can start is on sunday. >>> a federal government is taking action against the makers of a portable baby recliner after five infant deaths. this is the new model of the nap nanny called the chill. the consumer product safety commission says the device poses substantial risk of injury and death to babies. the company that makes it, baby matters, went out of business a month ago. >>> the temptation not to cheat on a diet is hard enough. now it seems though diets may enhance your sweet tooth. researchers from northwestern university found sweets taste much better when the person is cheating on a diet. yeah, a little drama helps party. the results show the more guilt that you feel the more pleasure you get from eating the treats. i think that's true actually. >> now watching them eat that i want some sweets. >> there you go. >> right? >> we'll ge
approaching but the stalemate in washington continues. the white house is still demanding tax hikes on the top 2%. president obama did lower the amount from 1.6 to $1.4 trillion. republicans say that's not good enough. they are holding out for cuts to programs like social security. >> we'll stay here right through the new year and make sure we resolve this in an acceptable way for the american people. >> the fed chair ben bernanke says just the threat of a "fiscal cliff" is already creating uncertainty in the economy. and that is not good for the stock market. >>> "fiscal cliff" negotiations though are throwing a wrench into year end tax planning, as well. >> but there are plenty of actions to take starting with changes of tax laws that expire at the and of the year. jill schlesinger, editor at large for cbsmoneywatch.com joins us now with information on tax laws that expire at the end of the year. >> good morning. >> first start with people trying to reduce their mortgage debt. >> reporter: this is really interesting because homeowners who have restructured their mortgage debt since the hou
decorated for the holidays, but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act, america will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase leaving the average household with a nearly $3,500 hangover. treasury secretary timothy geithner was on capitol hill to present the plan to congress. >> i was flabbergasted. i looked at him, i says, you can't be serious. >> reporter: president obama wants $1.6 trillion in new taxes on the rich, $400 billion in cuts to entitlement programs, such as medicare, and $50 billion in stimulus spending. >> the president and the white house have had three weeks and this is the best we've got?! >> reporter: mitch mcconnell laughed at them last week. now geithner says if they don't like the president's plan, the republicans should present their own ideas. >> we can't try to figure out what works for them. they have to tell us. >> reporter: but secretary geithner made it clear, there will be no deal that does not include a tax hike on the wealth
is keeping an eye on that "fiscal cliff." the talks are going on in washington. and cbsmoneywatch reporter erica ferrari has an update from new york. >> reporter: good morning. concern over fiscal talks in washington could push stocks down for a second day. the dow finished down 74 thursday, nasdaq down 21. last night president obama and house speaker john boehner met for just under an hour. the brief meeting was described as frank but there is still no sign of a compromise. the white house says the president will not budge in his tax strategy to raise rates on the top 2% of americans. republicans want more cuts to social programs like medicare. >>> a new report showing growth in china's manufacturing sector lifted most asian stocks. hong kong's hang seng gained .5%. tokyo's nikkei shed a fraction. >>> now, you might not know the name but you have seen the unique label that norman woodland developed with another engineer. woodland invented the bar code. now what it is, that rectangle found on about every product we buy in stores. they got a patent for their invention 60 years ago. but the
of support in washington, d.c. to look at new laws that would ban magazines that hold dozens of bullets at a time even from pro gun legislators. >> i go hunting. i never put more than three shells in my clip. it holds five. >> reporter: even the national rifle association chimed in to say, "the nra is prepared to offer meaningful contributions to make sure this never happens again." >> reporter: white house spokesman jay carney says the president is actively supporting a bill to reinstate the assault weapons ban, which expired in 2004. michelle? >> marlie, you were talking about kids going back to school and it was a day of mixed emotion. tell me what the mood is like after that. i'm sure it's really hard for parents to send their kids back to school but the community seems to be taking steps forward. >> reporter: well, understandably, people are still devastated although resuming classes restored some sense of routine, people -- it was still not a typical day. students went back to school with security. parents, students and teachers still grief-stricken and not much work was done bec
of respect. >>> the national rifle association plans a news conference in washington this morning at 7:45 pacific time. it will be the first time for the nra to make official comment on the connecticut shooting. the group says it opted to wait out of respect for the victims' families. >>> meantime, vice president joe biden convened a task force that will review the nation's gun laws and recommend changes. the president wants concrete proposals in hand by next month. the team will also look at mental health issues, school readiness, even violent videogames. >>> and the effort to get guns off the streets is going well in oakland so far. all week, gun owners have been trading in their fire power for cash. the buy back has netted hundreds of weapons including two machine pistols turned in by teenagers. >>> in san francisco, mayor lee is proposing two new gun control laws, one that bans hollow point bullets and another that notifies law enforcement when someone buys 500 rounds or more of any type of ammunition. sf police chief greg suhr will be onset to talk about the efforts with cbs 5's p
on public display at the national archives in washington, d.c. tomorrow. when it was exhibited in michigan last year people waited up to eight hours to get a glimpse. >>> final print edition of "newsweek" is now on newsstands, it is now online only. "newsweek" was first published back in 1933 and became the second largest weekly news magazine. a sign of the times. >>> you know those annoying words and phrases you keep hearing from friends and the media? >> yeah. the media. we are about to give you the worst of the worst from the 38th annual list put out by lake superior state university. here's some of the words and the phrase that is should be banned in 2013. "fiscal cliff." >> gone. >> we're tired of that. >> spoiler alert. trending. that's going to be around for a while. super food. and boneless wings. >> how did that sneak in? >> kim kardashian's next bill role mom. >> she is going to have a baby with her boyfriend kanye west. he announced it yesterday. they have been dating for 8 months. members of her family are tweeting the news. however, kardashian is still married to nba player kr
Search Results 0 to 13 of about 14